Fuel cell technology developer Ceres Power Holdings PLC (LON:CWR) has released the latest version of its SteelCell platform to customers on time and on budget.
The company said the successful release of version four of the platform reinforced the company’s reputation for successfully executing against its technology road-map.
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Ceres’s SteelCell technology features a perforated sheet of steel with a special ceramic layer that efficiently converts many types of fuel directly into electricity.
The company said its existing and potential partners will benefit from SteelCell version 4, and there are further improvements planned in the future.
The net electrical efficiencies now being delivered led to an award from the US Department of Energy, which will see Ceres Power working with global power leader, Cummins, in the development of technology for the emergent data centre market, the company noted.
"A year ago Ceres Power committed to delivering SteelCell version 4, and the latest advancements successfully incorporated are testament to the team's ability to execute,” said Mark Selby, the chief technology officer at Ceres Power.
“The primary objective to reduce manufacturing costs was achieved through removal of over 20% of the processing steps and improved material utilisation. The performance of the platform has been further improved to deliver in excess of 50% net electrical efficiency in prime power applications. Performance through thousands of rapid hot/cold cycles has also been confirmed, to the point that compatibility with vehicle and genset [distributed generator system] applications is being demonstrated," Selby added.
Ceres Power: The Evolution of the Steel Cell from Picture Book Films on Vimeo.
Shares rose 6.9% to 10.58p on the news.
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